By Rod Nickel and Timothy Gardner

WINNIPEG, Manitoba/WASHINGTON (Reuters) – A private-sector proposal endorsed by U.S. President Donald Trump to build a railway from Canada’s oil sands to ports in Alaska would free landlocked crude but faces numerous steep challenges.

Trump wrote on Twitter over the weekend that he would issue a permit for the Alaska-Alberta Railway Development Corporation (A2A Rail) project to move Alberta crude 1,600 miles (2,570 km) to the Alaskan coast, as well as freight in the other direction.

“I will be issuing a Presidential Permit for the A2A Cross-Border rail,” Trump said. He said his decision was based on the recommendation of fellow Republicans Dan Sullivan, a U.S. senator, and Don Young, a U.S. representative. Projects that cross the U.S. border require presidential permits.

The $17 billion project, which backers hope will be in service by the end of the decade, was first proposed in 2015

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(Bloomberg) — Paraguay has so far outperformed all main American nations during the pandemic with an economic contraction that has been cushioned by strong results in the agriculture and construction sectors.

The landlocked South American nation recorded a 6.5% decline in gross domestic product in the second quarter from a year ago, the central bank reported on Friday. Farming expanded 17.5% while construction grew 9% in the same period.

Outperforming Peers

© Bloomberg
Outperforming Peers

“The results have surprised to the upside,” Central Bank Chief Economist Miguel Mora said in a live webcast on Friday, adding that there’s upside bias to the bank’s forecast for a 3.5% contraction this year.


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Policy makers are expected to update their 2020 outlook October 28.

The pandemic has triggered deep recessions across the globe, with the International Monetary Fund warning Latin America faces a lost decade. Paraguay’s decision to adopt a strict lockdown and

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